secwatch.observer — SEC 8-K summary
======================================

Issuer:     Prairie Operating Co. (PROP)
CIK:        0001162896
Form:       8-K
Filed at:   2024-08-20T23:59:59+00:00
Accession:  0001493152-24-033279
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prairie Operating amends NRO acquisition, reduces cash at closing to $57M; major holder exercises warrant for $24M
--------------------------------------------------------------------------------

- Amendment to APA reduces cash consideration at closing from ~$71.5M to $57M; extends outside date to Sep 17, 2024.
- Holder Narrogal Nominees exercises Series E B Warrant for $24M, converts 20,000 Series E shares into 4M common shares.
- Holder converts 2,000 Series D Preferred into 400,000 common shares; increases beneficial ownership cap to 49.9%.
- Holder agrees to standstill (no further stock acquisitions above 49.9%) and voting agreement (caps voting at 29.9% unless proportional).
- Series D conversion subject to new 49.9% cap; Company must monitor monthly for conversion availability of at least 100,000 shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1162896/000149315224033279/0001493152-24-033279-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1162896/000149315224033279/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-033279

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer